It also opened its US$15m facility in Texas.
CITIC Envirotech (CEL) launched its subsidiary Singapore Envirotech Accelerator (SEA) at the Singapore International Water Week, an announcement revealed. SEA is set to fund and mentor small and medium enterprises (SMEs).
Backed by the Economic Development Board (EDB), SEA eyes to accelerate the innovation and commercialisation of environmental technologies drawn from intellectual properties as well as from research and development from local and international institutions,industry and technopreneurs.
“We believe the work done through SEA not only complements CEL’s existing services and technologies, we expect it to introduce new and exciting innovative technologies to the market, building an ecosystem that can bring manifold benefits to all stakeholders,” CEL chairman and group CEO Hao Weibao said.
CEL will invest $30m over four years and will employ at least 35 technology personnel for SEA. The new subsidiary has also put up a five-person Advisory Panel from leading industries to guide its assessment of potential targets to mentor.
In addition, CEL also opened its 40,500 sq ft membrane manufacturing plant worth US$15m ($20.3m) in Conroe Texas, an announcement revealed. The facility is its first plant outside Asia.
“It is a stepping stone for the Group’s expansion outside Asia and our goal is to bring our membrane products and membrane-based water treatment solutions to as many countries in the world as we can,” Hao said.
The Texas plant will facilitate firm Memstar for its production of two new products including Memstar Advance Reverse Osmosis (RO) and Nano Filtration (NF) Membrane. The RO/NF membrane is the component that removes salt from water which is the critical process behind desalination, water recycling and many water purification applications.
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